Political Quotes

“yesterday, new data showed what Texans have known and felt for months: that inflation simply is not letting up. Last month, prices were up 8.3 percent from a year ago. Economist Larry Summers, a well-known former president of Harvard University and member of Presidential Cabinets, said that this CPI report, Consumer Price Index report, confirms that the United States has a serious inflation problem. Rent is up 6.7 percent. If you go to the grocery store to feed your family, groceries are 13.5 percent over what they were last year. If you are a senior citizen suffering through the hot Texas summer and need your air-conditioner to work overtime, electricity to make that air-conditioner run is up 16 percent. Of course, that is just since last August, just a year ago, when we were already battling runaway inflation. But here is an even more shocking figure: Since President Biden took office on January 20, 2021, prices have risen 13 percent. So 13 cents out of every dollar that you earn--poof--has gone away. You are that much poorer. Your standard of living has been decreased by 13 percent. Inflation, of course, far outpaces wage growth, meaning the average American has effectively been handed a pay cut. A single paycheck doesn't go nearly as far today as it did a year ago. This is exactly what was predicted by leading economists when our Democratic colleagues ran off with the taxpayer credit card at the end of last year.…”